XML 39 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 24, 2021
Dec. 25, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 93,903 $ 9,412
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 36,522 36,225
Amortization of deferred financing costs 75 226
Deferred income taxes (3,061) (17,526)
Stock-based compensation 18,647 46,901
(Gain) loss on disposal of assets (349) 272
Loss on debt extinguishment 0 9,055
Gain on contingent consideration change in fair value (2,100) 0
Provisions for inventory and credit losses/bad debt 4,787 3,857
Unrealized gains on marketable securities (4,482) 0
Changes in operating assets and liabilities:    
Trade accounts receivable (6,133) (5,975)
Accounts receivable - other (9) 115
Inventories 3,251 1,118
Prepaid expenses and other assets (11,870) (29,655)
Trade accounts payable 2,026 2,411
Due to/from related parties (2,775) 8,283
Accrued expenses and other current and long-term liabilities (9,874) (1,185)
Net cash provided by operating activities 118,558 63,534
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (55,792) (25,880)
Acquisition of business, net of cash acquired (12,549) (8,500)
Proceeds from sales of property, plant and equipment 27,407 314
Investments in marketable securities (9,189) 0
Contribution of cash balances due to divestiture of subsidiary 0 (16,335)
Net cash used in investing activities (50,123) (50,401)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Related party note receivable (7,500)  
Related party note receivable   51,377
Proceeds from initial public offering, net of underwriting discounts and other offering costs 0 321,425
Payments for taxes related to net share settlement of equity awards 0 (27,707)
Proceeds from issuance of common stock under employee stock purchase plan 1,291 0
Dividends paid 0 (400,000)
Borrowings of senior secured debt, net of deferred financing costs 0 315,719
Repayment of senior secured debt 0 (300,000)
Repayment of unsecured credit facilities 0 (33,000)
Net cash used in financing activities (6,209) (72,186)
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash 604 3,350
Net increase in Cash and cash equivalents and Restricted cash 62,830 (55,703)
Cash and cash equivalents and Restricted cash at beginning of period 203,875 219,876
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD: 266,705 164,173
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents at beginning of period 197,214 214,491
Restricted cash at beginning of period 6,661 5,385
Cash and cash equivalents and Restricted cash at beginning of period 203,875 219,876
Cash and cash equivalents at end of period 259,208 157,653
Restricted cash at end of period 7,497 6,520
Cash and cash equivalents and Restricted cash at end of period 266,705 164,173
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 541 2,559
Cash paid for income taxes 16,635 7,568
Noncash transactions:    
Changes in Trade accounts payable related to Property, plant and equipment, net (4,934) (786)
Loans to cover purchase of common stock under employee stock plan 0 171
Recognition of right of use assets and lease liability upon adoption of new accounting standard $ 356 $ 0